TOUCHSTONE
STRATEGIC TRUST
Touchstone Dynamic Large Cap
Growth Fund (the “Fund”)
Supplement dated August 20, 2026 to the Prospectus, Summary Prospectus,
and Statement of Additional Information dated July 29, 2026
IMPORTANT NOTICE REGARDING CHANGES TO THE FUND
At a meeting of the Board of Trustees (the “Board”) of Touchstone Strategic Trust (the “Trust”) held on August 20, 2026, Touchstone Advisors, Inc. (“Touchstone”) proposed, and the Board approved, converting the Fund into an exchange-traded fund (“ETF”) by the reorganization of the Fund into a new ETF (“Acquiring ETF”), which upon filing and regulatory approval will be a newly-created fund in the Touchstone family of funds, (the “Reorganization”). At the same Board meeting, the Board approved the appointment of the Fund’s sub-adviser, Los Angeles Capital Management LLC as sub-adviser to the Acquiring ETF. The Board also approved the Acquiring ETF’s investment goal and principal investment strategies and risks, which will be identical to the Fund’s investment goal and principal investment strategies and risks. The Acquiring ETF,
however, will be subject to certain risks unique to operating as an ETF.
Additional information about the Acquiring
ETF will be available in the fourth quarter of 2026. The Acquiring ETF will not commence operations prior to the Reorganization and the Acquiring ETF’s shares are not currently being offered to the public, nor have they been approved for listing on any exchange. You can obtain a copy of the prospectus or SAI for the Acquiring ETF, once available, by visiting the website at
TouchstoneInvestments.com/ETFs, by calling (833) 368-7383, or by contacting your financial adviser.
Following the Reorganization, Touchstone has agreed to waive fees and reimburse expenses to the extent necessary to ensure the Acquiring ETF’s total annual operating expenses (excluding dividend and interest expenses relating to short sales; interest; taxes; brokerage commissions and other transaction costs; portfolio transaction and investment-related expenses; expenses associated with the Acquiring ETF’s interfund lending program, if any; other expenditures which are capitalized in accordance with U.S. generally accepted accounting principles; the cost of “Acquired Fund Fees and Expenses,” if any; and other extraordinary expenses not incurred in the ordinary course of business) are limited to 0.55% of average daily net assets. The Reorganization does not require shareholder approval and is expected to be tax-free for U.S. federal income
tax purposes.
Under the terms of the Agreement and Plan of Reorganization, the Fund would transfer all of its assets to the Acquiring ETF in exchange for shares of the Acquiring ETF. The Acquiring ETF would also assume all of the Fund's liabilities. The shares of the